The Governor of Vermont has signed legislation requiring certain manufacturers to report information regarding increases in their drug prices. Vermont Senate Bill 216 requires the Green Mountain Care Board, in collaboration with the Department of Vermont Access (Department), to identify annually up to fifteen prescription drugs from different drug classes that have a wholesale acquisition cost that has increased by 50% or more over the past five years or by 15% over the past twelve months. S.B. 216 will require manufacturers of those drugs to provide to the Office of the Attorney General all information relevant to the drug's wholesale acquisition cost increase including:
- All of the factors that contributed to the wholesale acquisition cost increase;
- The percentage of the total wholesale acquisition cost increase that is attributed to each one of the factors; and
- An explanation of each factor's contributions to the wholesale acquisition cost increase.
Further, S.B. 216 will require the AG's Office, in consultation with the Department, to provide a report on the information received from the manufacturers to the General Assembly on or before December 1st of each year. Additionally, the AG's Office must post the report on its website. The AG's Office may bring an action for injunctive relief, costs and attorney fees against any manufacturer that fails to provide the required information and may impose a civil penalty of no more than $10,000 per violation.
S.B. 216 became effective upon the Governor's signature.